WWW.EXFILE.COM, INC. -- 14457 -- MASSMUTUAL PARTICIPATION INVESTORS -- EXHIBIT 99 TO FORM 40-17G

EXHIBIT 99

I, Stephen L. Kuhn, Vice President and Secretary of MassMutual Participation Investors, hereby certify that the following resolutions were duly adopted by the Board of Trustees of the Trust, including a majority of the Trustees who are not “interested persons” of the Trust, on January 6, 2006 and remain in full force and effect.

RESOLVED, that American International Group and its affiliated companies carrying its group financial rating (“AIG”) be and they hereby are approved for the bonding of officers and employees of the Trust as required by law, including a requirement for a 60-day notice of any cancellation, termination or modification; that all officers and employees of the Trust or of its Investment Adviser having access to the securities of the Trust be bonded under a “Registered Management Investment Company Bond” jointly with MassMutual Corporate Investors (“MMCI”), the bond to be in the total amount of $1,275,000, to indemnify the Trust against larceny and embezzlement, which the Trustees, including a majority of those not “interested persons” (as defined by the Investment Company Act of 1940) hereby, in light of the value and nature of the assets, the persons having access thereto and the custody arrangements therefore, find to be reasonable;

FURTHER RESOLVED, that the payment by the Trust of $1,115 of the total 12-month premium of $3,231 for coverage commencing November 4, 2005 and ending November 4, 2006, is found to be reasonable and officers authorized to make disbursements are directed to pay the same;

FURTHER RESOLVED, that the Chairman, the President, a Vice President, the Chief Financial Officer, the Treasurer or the Secretary be and they each hereby are authorized to enter into an agreement with the other insured providing that in the event recovery is received under the bond as a result of a loss sustained by this Trust along with MMCI, that the Trust shall receive an equitable share of the recovery and at least equal to the amount it would have received under an individual bond for the minimum required coverage of $525,000; and

FURTHER RESOLVED, that the Secretary be and he hereby is authorized to file a copy of this resolution and the bond or any other papers pertaining thereto with the SEC, to file all notices of claims and settlements under the bond as required by law and regulations of the SEC to make such other filings and give such other notices as required by Rule 17g-1(g).

IN WITNESS WHEREOF, I have hereunto set my hand and the common seal of the Trust this 5th day of June, 2006.




		/s/ Stephen L. Kuhn
		Stephen L. Kuhn
		Vice President and Secretary